WBB Securities cut shares of Cidara Therapeutics Inc. (NASDAQ:CDTX) from a hold rating to a sell rating in a report released on Friday morning. They currently have $10.50 price objective on the biotechnology company’s stock.
A number of other research firms have also recently commented on CDTX. Needham & Company LLC reiterated a buy rating and set a $20.00 price objective on shares of Cidara Therapeutics in a research report on Monday, August 15th. Leerink Swann reissued a buy rating on shares of Cidara Therapeutics in a research note on Sunday, June 12th. Zacks Investment Research lowered Cidara Therapeutics from a hold rating to a sell rating in a research note on Monday, September 12th. Wedbush reissued an outperform rating and issued a $22.00 price target on shares of Cidara Therapeutics in a research note on Thursday, June 9th. Finally, BTIG Research reissued a buy rating and issued a $24.00 price target on shares of Cidara Therapeutics in a research note on Monday, August 15th. Two research analysts have rated the stock with a sell rating and five have assigned a buy rating to the stock. Cidara Therapeutics presently has an average rating of Hold and an average target price of $17.90.
Shares of Cidara Therapeutics (NASDAQ:CDTX) opened at 11.66 on Friday. The firm’s 50-day moving average is $11.60 and its 200 day moving average is $11.72. Cidara Therapeutics has a 52 week low of $9.48 and a 52 week high of $18.07. The firm’s market capitalization is $162.14 million.
Cidara Therapeutics (NASDAQ:CDTX) last posted its quarterly earnings data on Thursday, August 11th. The biotechnology company reported ($0.85) EPS for the quarter, missing analysts’ consensus estimates of ($0.76) by $0.09. On average, equities analysts forecast that Cidara Therapeutics will post ($3.35) earnings per share for the current year.
Several institutional investors have recently added to or reduced their stakes in CDTX. Geode Capital Management LLC raised its position in Cidara Therapeutics by 2.2% in the first quarter. Geode Capital Management LLC now owns 27,025 shares of the biotechnology company’s stock valued at $343,000 after buying an additional 577 shares in the last quarter. State Street Corp raised its position in Cidara Therapeutics by 10.3% in the first quarter. State Street Corp now owns 37,477 shares of the biotechnology company’s stock valued at $475,000 after buying an additional 3,490 shares during the period. Sabby Management LLC bought a new position in Cidara Therapeutics during the first quarter valued at approximately $512,000. Turner Investments L.P. bought a new position in Cidara Therapeutics during the second quarter valued at approximately $283,000. Finally, TFS Capital LLC bought a new position in Cidara Therapeutics during the second quarter valued at approximately $217,000. 58.87% of the stock is currently owned by institutional investors and hedge funds.
About Cidara Therapeutics
Cidara Therapeutics, Inc, formerly K2 Therapeutics, Inc, is a clinical-stage biotechnology company. The Company is engaged in the discovery, development and commercialization of anti-infectives. It is developing a pipeline of product and development candidates with a focus on serious fungal infections.
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